March 23, 2017 Josh Sprague

Finding Inventory In a Limited Market

With inventory levels at historic lows, and rates and buyer demand soaring, you can’t rely on just the MLS feed to find your next luxury home. You can see how dire this situation is just by looking at the graph showing historic inventory levels for the last 13 years. Clearly more aggressive strategies need to be taken to find the right home that you’re looking for. But what can be done? Here are some clear, east-to-use tips for finding the right luxury home in a low inventory market.

Tap Into the Sprague Pipeline

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Every week we are regularly listing beautiful homes for sale in Edina, Minneapolis and Southwest suburbs on JoshSprague.com. By visiting our website, you are able to view many different properties actively for sale, as well as preview properties that will be coming to the market soon. Subscribe to our real estate blog to get notified of new and upcoming homes for sale. On our website, we also have listing pages and blog posts that talk about each listing and unique property features in detail. On the property pages, we also have high quality digital photo galleries and videos that show off the home, as well as the surrounding neighborhood, parks, lakes, and community. A great example of this would be our home video for 3248 Dupont. If you still haven’t found a property, you can visit our property search page where you can search the entire MLS for exactly the type of property you are looking for. Search by price, location, home type, size, bedrooms, baths, and more.

Leverage The Sotheby’s Network

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Every week our Lakes Sotheby’s offices in Edina and Wayzata send out a list of pre-mls and non-mls properties in hot markets like Edina, Lake Minnetonka, Minneapolis and more. Most of the pre-mls listings come out 4-6 weeks before the actual listing hits the MLS. It is an advantage for you to be working with a Lakes Sotheby’s agent because you can get an advanced notice of these upcoming listings. And you know we have the best properties on the market in every price category, including the upper bracket!

Deep Dive the Neighborhood

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Sometimes we will mail an entire neighborhood when a client tells us they are looking for a new home there. If the client tells us the price range, location, and amenities they are looking for, we can use our marketing force to uncover potential home sellers and find listings that nobody else knows about. Just last week we did this for a client looking for a one level townhouse in a luxury subdivision, and got two calls back in response to our mailing and networking efforts. Most importantly, our client got to see the home and consider an offer on it! As a top producing Real Estate Agent in Edina, Minnesota with Lakes Sotheby’s International Realty, I provide full-service Buyer and Seller representation. I have 17+ years experience and am an expert in the Edina, Minneapolis, and Southwest Metro housing markets. I have the experience, connections, drive and expertise needed to find clients the right home in even a very limited market. Call or text anytime to 612-501-0252 and we’ll find the home you’ve been looking for!

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